The Group of Seven vowed to intensify economic pressure on Moscow, pledging new steps to target countries and entities that continue purchasing Russian oil or otherwise help finance the Kremlin’s war effort.
In a statement released Wednesday, G7 members said they had agreed on the importance of trade measures — including tariffs, import bans, and export restrictions — as tools to limit Russian revenues. The group stressed it would move to “significantly reduce, with the objective of phasing out, remaining imports from Russia, including on hydrocarbon imports.”
The G7 also warned that it was “giving serious consideration” to applying restrictions on third parties that provide a financial lifeline to Russia. Officials said the measures reflect a renewed determination to close loopholes and ensure sanctions bite, underscoring the coalition’s commitment to sustaining economic pressure as the war drags on.
